PennyMac Mortgage (PMT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 29, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.37

Last Year’s EPS

-0.01

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 5 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Jan 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a predominantly positive transformation story: PMT materially scaled its private label securitization activity (19 deals / $6.7B UPB in 2025), grew retained investments nearly tenfold, achieved solid Q4 earnings ($42M, 13% ROE), and delivered attractive returns from credit-sensitive strategies. Challenges include a modest decline in run-rate EPS, a significant quarter-over-quarter drop in interest-rate sensitive income excluding market-driven value changes (driven by higher MSR prepayments and runoff), a small pretax loss in Correspondent Production, and an increase in reported debt-to-equity due to consolidation of securitization debt. On balance, the strategic momentum, strong securitization pipeline, high credit-strategy ROEs, and maintained core leverage profile outweigh the near-term operational headwinds.

Company Guidance

Management guided that PMT expects to complete approximately 30 securitizations in 2026, targeting low‑ to mid‑teens ROE on retained investments and aiming to lift equity allocated to non‑agency securitizations from a ~9% 12‑month average to roughly 11–12% by year‑end, while optimizing toward overall targeted ROEs of 13–15%. They reiterated a quarterly run‑rate per‑share expectation of $0.40 (down from $0.42), noted the interest‑rate‑sensitive strategy’s overall run‑rate ROE of ~12.5% (interest‑rate sensitive pretax contribution $28M, 10% annualized ROE) and MSR fair‑value of $3.6B, and said MSR runoff and higher prepayments reduced income excluding market‑driven changes to $21M (from $36M). Q4 results included net income to common shareholders of $42M ($0.48 diluted, 13% annualized ROE), credit‑sensitive pretax income of $24M (27% annualized ROE) with $12M in CRT gains, subordinate MBS gains of $11M, servicing advances of $97M (up from $63M), and book value per share of $15.25 (up from $15.16). They summarized 2025 activity (19 securitizations totaling $6.7B UPB with retained investments rising to $528M from $54M in 2024), Q4 securitizations (8 deals, $2.8B UPB, $184M retained; plus $1.1B in 3 post‑quarter deals), PFSI production UPB of $3.7B (2.9B conventional, $0.8B non‑agency), with PMT buying 17% of conventional and 100% of non‑agency (expecting 15–25%/100% in Q1 2026), acquisition of $1.8B UPB for securitizations, an unchanged fulfillment fee of 18 bps, $150M of new unsecured financing raised, plan to retire $345M exchangeable notes due 2026, and leverage of ~10:1 total debt‑to‑equity (6:1 excluding nonrecourse).

Strong Quarterly Earnings and ROE

Net income to common shareholders of $42 million in Q4 2025, $0.48 diluted EPS, representing a 13% annualized return on common equity; book value per share increased to $15.25 from $15.16 (≈+0.6%).

Accelerated Securitization Activity and Scale

Completed 19 securitizations in 2025 totaling $6.7 billion UPB versus 2 securitizations in 2024; retained investments from securitizations grew to $528 million from $54 million (nearly tenfold increase, ≈+878%). Q4 alone: 8 securitizations totaling $2.8 billion UPB and $184 million retained; 3 additional post-quarter deals totaling $1.1 billion. Company expects ≈30 securitizations in 2026 with targeted returns on retained investments in the low- to mid-teens.

Market Position in Non-Agency MBS

PMT established itself as a top 3 issuer of prime non-Agency MBS in 2025, demonstrating successful organic investment creation via private label securitizations.

Attractive Returns from Credit-Sensitive Strategies

Credit-sensitive strategies contributed $24 million pretax, generating a 27% annualized ROE. Gains from organically created CRTs were $12 million (including $8M realized gains and carry, $4M market-driven); subordinate MBS from private label securitizations generated $11 million in gains (including $9M market-driven).

Interest Rate Hedging and MSR Valuation Movement

Interest-rate sensitive strategies contributed $28 million pretax (10% annualized ROE). Hedging activity yielded net favorable results: $26 million increase in MSR fair value partially offset by $7 million net decline in fair value of MBS and interest rate hedges. MSR assets valued at $3.6 billion at year-end.

Portfolio Composition and Credit Quality

Approximately 60% of shareholders' equity deployed to seasoned investments (MSRs 46%, GSE CRT 13%). MSR underlying loans weighted average coupon 3.9% (low reprice risk); GSE CRT portfolio weighted average current LTV 46% with expectations of limited realized lifetime losses.

Financing and Liquidity Actions

Raised $150 million of new unsecured financing via reopenings of exchangeable senior notes due 2029 and expect to retire $345 million exchangeable senior notes due in 2026 with existing capacity. Company notes source of securitization debt repayment is limited to associated securitized loan cash flows.

Correspondent Production Scale and Fee Stability

Acquired $3.7 billion UPB from PFSI correspondent production (Q4); PMT purchased 17% of conventional conforming and 100% of non-agency eligible correspondent production; additionally acquired $1.8 billion UPB from PFSI outside the fulfillment agreement for securitizations. Weighted average fulfillment fee remained unchanged at 18 bps.

PennyMac Mortgage (PMT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PMT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2026	2026 (Q1)	0.37 / -	-0.01	―	―	―
Jan 29, 2026	2025 (Q4)	0.40 / 0.48	0.41	17.07% (+0.07)
Oct 21, 2025	2025 (Q3)	0.35 / 0.55	0.36	52.78% (+0.19)
Jul 22, 2025	2025 (Q2)	0.36 / -0.04	0.17	-123.53% (-0.21)
Apr 22, 2025	2025 (Q1)	0.38 / -0.01	0.39	-102.56% (-0.40)
Jan 30, 2025	2024 (Q4)	0.36 / 0.41	0.44	-6.82% (-0.03)
Oct 22, 2024	2024 (Q3)	0.35 / 0.36	0.51	-29.41% (-0.15)
Jul 23, 2024	2024 (Q2)	0.34 / 0.17	0.16	6.25% (+0.01)
Apr 24, 2024	2024 (Q1)	0.31 / 0.39	0.5	-22.00% (-0.11)
Feb 01, 2024	2023 (Q4)	0.34 / 0.44	-0.07	728.57% (+0.51)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PMT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2026	$13.51	$11.83	-12.44%
Oct 21, 2025	$11.34	$12.29	+8.38%
Jul 22, 2025	$11.90	$12.09	+1.57%
Apr 22, 2025	$12.01	$11.17	-6.96%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does PennyMac Mortgage (PMT) report earnings?

PennyMac Mortgage (PMT) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).

What is PennyMac Mortgage (PMT) earnings time?

PennyMac Mortgage (PMT) earnings time is at Apr 29, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is PMT EPS forecast?

PMT EPS forecast for the fiscal quarter 2026 (Q1) is 0.37.